Exhibit 9-2 A monopolistic competitive firm
?

To maximize long-run profits, the monopolistically competitive firm shown in Exhibit 9-2 will charge a price per unit of:

When do new firms enter a perfectly competitive market? When does entry stop?

What will be an ideal response?

If a monopoly market were to be transformed into a competitive market, the result would be that a. market output would increase

b. the market would be efficient, once the market reached the competitive output. c. the deadweight loss from the monopoly would be eliminated. d. All of the above would be true.